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Thursday, July 17, 2003
SSS collects P748 million from Jan-June premiums
By Clara Mae Hortelano
THE Social Security System (SSS)-Western Visayas office has reported a 12 percent increase of its collection from members’ contribution in the first half of the year.
Based on the SSS quarterly collection report, collections from January to June this year reached P748 million, 12 percent higher than the P665 million collection for the same period last year.
Records show that for the first six months, among the 12 branches, the Bacolod branch posted the highest collection on monthly contribution with P282 million.
It is 11 percent higher than the P254 million collection of the same period in 2002.
Data further show that Iloilo City collected P187 million, Antique - P11 million, San Carlos - P13 million, Aklan - P22 million, Sagay City - P35 million, Bais - P21 million, Dumaguete City - P54 million, Kabankalan City - P30 million, Roxas - P32 million, Bago City - P34 million and Victorias City - P21 million.
SSS further said that the increase in collection could be attributed to the one percent increase on the members’ monthly premiums imposed last March.
Currently, the SSS members are contributing 9.4 percent of their monthly earnings for their SSS monthly premiums. Previously, it was only 8.4 percent.
SSS added that the increase in collections were also attributed to the cashier center in Bacolod branch where direct collection are now accepted in SSS main office.
Moreover, SSS disclosed that they have collected P173 million from short-term collections which is an increase of 14 percent from last year’s P152 million collection.
The collection on real estate loan reached P26 million, 10 percent higher than the 24 million collection of same period last year.
(July 16, 2003 issue)
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